SAN DIEGO, April 23, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Global Payout Inc. (GOHE) (“Global” or the “Company”) and its wholly owned subsidiary MTrac Tech Corporation (“MTrac”) are pleased to announce that the Company has formed a strategic alliance with a company in Puerto Rico to offer the Company’s signature solution, MTrac, to the legal cannabis community.
Made legal by executive order in 2015, and two years later signed into law by the legislature, medical marijuana in Puerto Rico has become a humming commercial sector in the American territory. To date, the government has issued more than 70 dispensary licenses and over 40 have opened their doors. According to official estimates, the industry has added $11.5 million to the economy of Puerto Rico. Limited banking support presents a particular problem in Puerto Rico where the MTrac system will offer merchants the ability to pay their tax bills, and track their business using Blockchain Technology.
“The Company’s move into Puerto Rico, in my opinion, signifies continued and growing acceptance in this industry and evidences the continued expansion of MTrac as a key partner to regulatory agencies looking to bring their legal cannabis industries into compliance. Over the last several months MTrac has shown, through continued growth in revenue, expansion into new states and territories, and the development of strategic partnerships, that they intend to bring MTrac to every legal cannabis business out there,” said CEO Ms. Vanessa Luna.
The Company will continue to provide updates to its valued shareholders on the current state of their business as the year progresses.
About Global Payout, Inc. (GOHE)
Since the Company's inception in 2009, Global Payout, Inc. has been a leading provider of comprehensive and customized prepaid payment solutions. From 2014 to 2017 Global focused on identifying new state of the art technologies in a variety of industry sectors and successfully helped launch MoneyTrac Technology Inc. and other companies within the FinTech space. In 2018, Global completed a reverse triangular merger with MoneyTrac Technology Inc. resulting in Global retaining the wholly owned subsidiary, MTrac Tech Corporation. Global’s current focus is continuing to identify new business opportunities while it reorganizes its future business endeavors.
About MTrac Tech Corp.
MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Global Payout, Inc. MTrac is a software technology, sales and marketing, and business development company focused on “high risk” and “high cost” industries. The Company’s flagship product is the MTrac payment platform offering a full-service solution with technology offerings including Payment Platform, Blockchain, Compliance, POS, E-Wallet, Mobile Application and Digital Payment Solutions. We are one network disrupting the status quo. It is MTrac’s creative vision through the use of its innovative technology solution to become the premier service provider offering the “Key to Cashless®.”
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Markets.com website.
Global Payout, Inc.
(702) 790-2511 Ext. 101
MTrac Tech Corp.
(702) 790-2511 Ext. 101